Archive for July, 2011
Investors partners with #Kenya
Four international Financers are to invest jointly with the Kenya Railway Corporation (KRC) in a Sh256billion real estate plan as foreign investors eye the country’s property market.
The state owned Rail Corporation has been lobbying for investors to develop the lands surrounding the rail stations in Nairobi, Kisumu and Mombasa.
According to Nduva Muli, the Managing Director of the rail agency said four investor applicants are on ground, and ’all that is important is that they have very strong offers.’
Kenya Railway is providing the lands which is shaping up to be the biggest cost item in housing construction and part financing is expected to earn the firm an estimating sh1billion annually in land leases, critical to support its heavy financial need.
The money gained will be used to develop infrastructure and terminals.
Kenya Railway has opened its massive land to private investors, joining the list of institutions such as the National Social security Fund (NSSF), Centum Investment and pension Schemes in rushing to tap the huge returns from the booming market.
In Nairobi, Investors are expected to put about Sh120 billion in building shopping malls, restaurants, parks and hotels that can accommodate 3,000 people; in Mombasa are to build office blocks, shopping malls and three hotels with conference facilities that can accommodate 3,000 people to gulp about Sh80 billion while in Kisimu Sh60billion is to be used to build two hotels 2,000 people and car parking complexes.
WORLD BANK STATES REASON FOR LESS INVESTOR ON SOUTH AFRICA
Despite South Africa stunning returns to investors, the country’s economy has failed to attract enough investment to achieve the Government’s 6.5% annual growth target.
This assertion was made by a World Bank Economist, Sandeep Mahajan, while speaking at the launch of a World Bank Economic update of the country in Johannesburg this week.
The new growth plan was outlined by the country’s Economic Development minister , Ebrahim Patel.
Reports indicates that private investors have failed to respond because they look at the risks and barriers of doing business in the country. It identifies the four key issues that deter the growth of investors in the country as skill development, low salary rate, labor relation and industrial competition in South Africa which is weaker than its international peers – sandeep said.
Sandeep said that the growth aspired by the South Africa government can only be achieved with the creation of five million jobs in the next one year.
However, Marcelo Giugale, a World Bank Director said the outlook for the emerging marketis bright as the engine of growth switched from the developed world to the developing world.
AFRICA STAND TO BENEFIT IMMENSELY FROM CHINA BILETERAL TRADE
With China being the World top manufacturer, experts have said that Africa stand to benefit immensely from the up coming African-china Business Forum.
The Forum which will hold on October 20 this year at the Gallagher Convention center, Johannesburg, South Africa, will host trade and industry professionals, Diplomatic representatives and Investors to discuss how to improve trade between African and Chinese Business.
Experts believe that African countries will benefit from the partnership only if they position themselves to leverage from the strategic opportunities that have opened up as a result of the partnership.
The Chinese- African business Partnership include opportunities for bi-lateral trade in sectors such as infrastructures, agribusiness, human resource development, mining, construction and energy.
It is believed that the benefit of the partnership will be symbiotic as china can provide sophisticated manufacturing equipment beneficial to Africa’s development while Africa on the other hand has strategic resources such as crude oil that can meet China ’s domestic demand.
This will ensure economic growth for each country.
The importance of the bi-lateral trade was also stressed by Jacob Zuma, he President of South Africa at the World Economic forum which was held in May this year. He said ‘Africa should interact with China in a way that will benefit both countries.’
Reports also indicate that China’s involvement in Africa’s economy will provide diversify trading patners, thereby reducing their vulnerability to primary commodity price stock and increasing competition among importers of African commodities.
With numerous opportunities for growth and expansion; it is believed that the forum will provide a ground to explore economic and trade prospects and surrounding issues.
CBN PROPOSE MORE ATMs FOR CASH-LIMIT POLICY
With the cash limit policy set to begin fully by June 2012, the Central Bank of Nigeria (CBN) is to install 40,000 Point of Sale (POS) and 10,000 Automated teller Machine(ATMs) nationwide.
The facilities will be ready by December 31 this year with additional 75,000 ATMs and 375,000 POS to be provided by 2015.
According to the Deputy Governor, Operations, Tunde Lemo, CBN is using successes recorded by the Federal Government in on-line payment of salary in Ministries, departments and Agencies as a benchmark for the policy.
The CBN cash limit policy is meant to limit the cash transaction in the economy to 150,000 Naira for an individual and one million Naira for corporate entities per day.
Lemo affirms that the progress made by the federal Government in the electronic payment of salaries, contractor and supplier of innovations such as ATMs and mobile telephony encouraged the policy.
He said te policy became necessary as data analysis of the commercial bank shows a high cost structure in the banking industry of which a significant proportion is passed on to customers in the form of high service charge and high lending rates.
The implementation of the policy will commence in Lagos by December and gradually cover Port Harcourt , Kano , Aba and Abuja .
International Investors Chose South Africa, Nigeria and Kenya as top 3 African countries in 2011
International investors chose South Africa, Nigeria and Kenya as the best African countries on the continent for investment in 2011. A survey conducted by Africa Business Panel among 800 business professionals involved with Africa shows that these 3 countries were earmarked as the continent’s favourites when it comes to international investment. Ghana, Angola, Tanzania, Rwanda, Botswana, Uganda and Mozambique are the runners up and complete the top ten countries for investment out of 53 economies on the African continent.
Virtually all African economies show promising year-on-year growth. This is attracting the attention of the international investor community who increasingly see Africa as ‘the last frontier’ for attractive growth opportunities. Research and numerous survey results among the international investor community consistently indicate that investors expect over half of the ten fastest growing economies in the world in 2011 to be African.
The Africa Business Confidence Index has published a month-on-month business confidence index since January 2011. The index results for Africa based on surveys of 800 business professionals from more than 30 countries on the continent consistently show growth. Calculations are based on the purchase managers index methodology used globally. The outcome of the business confidence index for the African continent is consistent with the trust of the international investor community. The manufacturing business confidence index for May is 53.8 and for non-manufacturing 57.1 for the same month. Any number over 50 indicated growth.
It is no coincidence that the top-10 countries selected by the international investor community in 2011 are all sub-Saharan. Northern Africa has suffered a set back in confidence from investors owing to the political turmoil which started at the beginning of the year.
Another interesting outcome with regard to the most attractive African economies to invest in is the fact that they are among the largest on the continent and – with the exception of Rwanda – non-Francophone.
The top-10 African countries selected by the international investor community in 2011 in order of preference:
1. South Africa
2. Nigeria
3. Kenya
4. Ghana
5. Angola
6. Tanzania
7. Rwanda
8. Botswana
9. Uganda
10. Mozambique
About Africa Business Panel
Africa Business Panel (ABP) is a joint initiative of Africa Business Communities (www.africabusinesscommunities.com), a fast-growing network of African entrepreneurs and business professionals, and NarrowMinds (www.narrowminds.com), a leading architect of online market research and loyalty programs.
Africa Business Panel generates reliable indices on business developments and economic outlook in Africa. In doing so, Africa Business Panel wishes to contribute to the continent’s business reputation and produce in-depth market research data for governments, the business community and international organizations. Africa Business Panel provides intelligent matches for African business professionals with the rest of the world which results in promising business opportunities.
Call For Applications: Training On Human Rights Mechanisms For Civil Society Actors In Africa
The African Centre for Democracy and Human Rights Studies and the Office of the High Commissioner for Human Rights (OHCHR) will organise a training programme on international and regional human rights mechanism. The main objective of the training programme is to build the capacity of representatives of African human rights NGOs with knowledge and skills to effectively use the African human rights and international system in their work towards human rights promotion and protection on the continent. Deadline for applications: August 15, 2011.
At the end of the training course, participants would also participate in the NGOs Forum (Forum on the Participation of NGOs in the Ordinary Session of the African Commission on Human and Peoples’ Rights) as well as the public sessions of the African Commission. This is to enable participants gain first hand knowledge in the practical and theoretical application of the one of the most important regional human rights mechanism, i.e. the African Commission and at the same time provide the platform to practice their newly gained skills. In addition, the training programme is designed to enable participants to acquire in-depth understanding of the interaction and complementarities of the regional and international human rights systems.
Expected Outcomes
At the end of the course, participants will be:
Equipped to engage the African Commission, the African Court (apply for observer status, file complaints/cases, make statements at Commission’s sessions etc) and the UN
Meet in person and forge relationship with the Commissioners and Special Rapporteurs of the Commission
Opportuned to network with a wide range of civil society organisations on issues of common interest
Equipped with increased knowledge in advocacy and lobbying strategies
Course Content and Methodology
The training programme will be conducted in both English and French with simultaneous interpretation provided. The programme will be interactive and would comprise presentations by experts, plenary discussion, debates, case studies, and other similar methodologies that promote effective participation and sharing of experience, skill and knowledge on the following broad themes:
Status of Human Rights and Democracy in Africa
The African Human Rights System (African Commission on Human and Peoples’ Rights, African Court on Human and Peoples’ Rights etc)
Special mechanisms within the African Human rights system
The United Nations Human Rights System
International Human Rights Law
The Role of NGOs in the African Human Rights System
The Role of NHRI in the Promotion and Protection of Human Rights
Civil Society engagement with UN mechanism (Universal Periodic Review, Special Procedures)
Human Rights of Minorities and Indigenous communities
Networking, Advocacy and Lobbying Strategies
Duration
The training programme, which is scheduled to precede the NGOs Forum, would last for five days. It will be followed by the NGOs Forum (duration of 3 days),which usually precedes the Ordinary Session of the African Commission on Human and Peoples’ Rights. The tentative dates are 17th-21st October 2011, which shall be confirmed in due course of time.
Venue
The Venue shall be notified in due course of time.
Participants
Participants numbering about 15 to 20 would be drawn from mainly African countries.
Resource Persons
Resource Persons will be drawn from the organisers’ wide pool of eminent defenders and activists who are experts in the field of democracy, rule of law and human rights on the continent.
Application
Interested applicants should send a letter of application to the African Centre, taking into consideration the following selection requirements:
Selection Requirements
Interested applicants must meet the following selection requirements:
Aged between 25 and 40 years
Must submit abridged curriculum vitae (maximum one page)
Must be fluent in either English and or French
Must occupy position relevant to training as well as demonstrate ability to related training benefits to work
Must have been actively involved in the last three years in human rights work in the continent either in as part of a movement, Non Governmental sector or in a national human rights institution
Must prepare and submit prior to arrival for the course a report on the human rights situation in their respective countries (maximum 5 pages)
Letter of support signed by Head of organisation/institution or designated representative expressing commitment to the implementation of a work plan
Written commitment to participate in the NGOs Forum as well as public sessions of the African Commission confirmed by the responsible official authorizing such delegation
Participant would be required to identify an area of work that puts into practice knowledge/skill gained during the training programme and MUST develop and submit a written project proposal not more than five pages long
Qualified women are highly encouraged to apply.
Selection Procedure
A selection Panel composed of both the ACDHRS and the OHCHR will select participants of the training programme in accordance with above-mentioned selection criteria (on a first-come first-served basis considering the high number of applications to be received).
Applications MUST reach the ACDHRS before 15th August 2011 in order to be considered. The Selection Panel shall notify the final result of the selection process on or before 30th August, 2011. Only selected applicants will be contacted.
Funding/Scholarship
Both the ACDHRS and OHCHR would raise funds for the organisation of the event and would therefore be able to offer partial scholarship to qualified applicants. However, due to the anticipated high demand for participation, participants are encouraged to raise funds to cover the cost of travel, accommodation and sustenance.
A certificate of attendance would be awarded to participants at the end of the training programme.
For more information, click here
Opportunity to Pitch Your Ideas to Investors
Do you have a startup idea? Join this month’s edition of Mobile Monday as they open the floor for you to pitch investors that will be present. First you need to register to attend the event, then fill the form below if you have an idea you want to pitch. Click here to read more on the objectives
NIGERIA SET TO BUILD WORLD TRADE CENTER IN ABUJA
The Abuja World Trade Center(AWTC) is a Private Public Partnership (PPP) arrangment with plans of investing $1 billion(#155 billion) by the Federal Government.
The project has already attracted $2.6 billion direct foreign investment.
PRIVATE SECTOR – A FORCE TO RECKON WITH
Private sectors in Africa economy are no longer a lone voice but a voice to be reckon with in the international community as governments are now more attentive to them than in the previous year.
This assertion is made from a research conducted by Pricewaterhouse Coopers;a leading research firm in Africa.
According to a top official in the Research group, Phillip Kinisu, “Nigeria,South Africa,Rwanda,Kenya’s private sector are actively participating with government on strategic planning.
The survey which was conducted on two hundred and one Chief Executive Officer(CEO) in ten African countries includes both local and expertrate businesses.
Report also indicated that CEOs are generally optimistic on economic growth in Africa as ninety three percent believe that the continent’s economy will expand in the next three years.
This is an assertion to the World Bank report in June which claims that the growth rate in Sub- Saharan Africa is among the fastest in the world and will continue to be in years to come.